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HORIZON PETROLEUM LTD. ANNOUNCES CHANGE TO TERMS OF PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE FINANCING
HORIZON PETROLEUM LTD. ANNOUNCES CHANGE TO TERMS OF PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE FI...
About this update from Horizon Petroleum Ltd.
[{"type":"text","content":"\n\n\nHORIZON PETROLEUM LTD. ANNOUNCES CHANGE TO TERMS OF PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE FINANCING\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n/THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./CALGARY, AB, March 20, 2026 /CNW/ - Horizon Petroleum Ltd. (the \"Company\" or \"Horizon\") (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) announces a change to the terms of its convertible debenture financing announced on March 17, 2026.\n\n\n\n\n\n\n\nThe convertible debenture financing takes the form of a private placement offering (the \"Offering\") in the aggregate principal amount of up to $1,215,000 of secured convertible debentures (each, a \"Debenture\") at a price of $1,000 per Debenture.  This is an increase from the previous aggregate principal amount of $1,200,000.  The Convertible Debenture will be secured and ranking on default in third position behind the currently issued debentures due on May 20, 2026 (\"Series 1 Debentures\") and the convertible debentures due on December 19, 2027, December 29, 2027 and February 27, 2028 (\"Series 2 Convertible Debentures\").The Debentures bear interest from the applicable issuance date at 7% per annum until the date that is 24 months following the closing date (the \"Maturity Date\"). The closing date is anticipated to be March 23, 2026. The principal amount of the Debentures can be convertible into units of the Company (the \"Units\") at the option of the holder at any time prior to the close of business on the last business day immediately preceding the Maturity Date, at a conversion price of $0.105 per Unit (the \"Conversion Price\"), subject to adjustment in certain events.  This is an increase from the previous conversion price of $0.10.Each Unit is comprised of: (i) one common share of the Company (each, a \"Common Share\"); and (ii) one half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Ea...